Milton Johnson, Associate Broker, Bronx NY

Multiple Locations available

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www.milton4realestate123.com

Milton Johnson

Licensed Associate R.E. Broker
Milton D. Johnson


www.milton4realestate123.com

see:
BRONX-For Sale, For Rent, Free MLS Search, All Cash Deals, FREE Home Evaluation

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Multiple Locations available for Supermarket & Pharmacy & Discount Store & Doctor

Email or call me for more details

Milton D. Johnson
Licensed Associate Real Estate Broker
J.A. Villani Real Corp.
milton@milton4realetate123.com
917.676.6421
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Buyer 101: Coops-Sponsor Please…. or Not?

Ok you did all your research, COOP vs. Condo, and decided a Coop apartment is for you!

You also have the cash credit and income to buy at a certain price. So all you have to do is find an apartment in an area you find comfortable.

Is it that easy? No quite that easy.

Board Approval Units

In general, most Coops utilize the board approval process. To put it simple, the board’s job is to screen potential Buyers. In some cases having a board is good in other cases it is bad. You can pass the Board very easily or you could be rejected for financial reasons and/or personal conflicts with the board members.

Pros-Screen tenants, more units are available because they are resales so more selections, a good board usually selects good neighbors

Cons-A difficult board may reject you even if your qualified, are sometimes not renovated by owners

Sponsor Units

Some people find the Board approval process unpleasant. So those people may purse what we call Sponsor Units. These units do not have Board Approval Process. The units are being sold for the 1^st time by the development that sponsored the conversion from rentals to a Cooperative. Typically, if you get a mortgage you get the apartment. That sounds great? It is a definite option to the Board Approval Process.

Pros-Less picky, you get the mortgage you get the unit, sponsor usually does complete renovation.

Cons- some back will not lend depending on % of owned units, sponsor is less selection than board

View My Coop Blog Below and Upcoming Blogs

Buyer 101: COOPS -Who's Your Foe, The Board or The Banks?

Upcoming blogs

"the pros and cons of the board approval process"
"Coops vs. Condo"

Milton D. Johnson
Licensed Associate Real Estate Broker
www.milton4realestate123.com
www.facebook.com/milton4realestate123
www.twitter.com/milton4re123

Rant & Rave: Builders of Tomorrow?

But many years ago and every now and then today, a builder actually has a vision of maximizing light, space and overall beauty of a home in addition to how one room flows to another.

We all have our strengths and weakness. Unfortunately for many builders today, weakness is their strongest attribute.

They call themselves builders because they have the money any can hire people to put together “homes” (using the word loosely). They insult people intelligence with ridiculous prices for tiny homes. I know your all guessing, Hmm, does he like builders. Actually I do some will not buy land that the can not build a decent size house. Of course their motivation is that a larger home is easier to sell. But at least those builders are on the right track

So my advice builder is “build with care, build as if you would live there.”

Then you product would sell easier and agents would find better buyers for you.

Motivated from a Blog by "Home That Leave You Speechless" by Catherine Paris

Milton D. Johnson
Licensed Associate Real Estate Broker
www.milton4realestate123.com
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Is An All Cash Deal Good For You?

The investors that I use buy properties all cash , in 30 to 45 days, no mortgage contingencies, in all 5 Boroughs of New York City. Offers are made within 48 hours.

Homes

Is your property in need of of a tremendous amount of repair?
Is your property fire damaged and your unable to make the repairs?

Foreclosure

Are you behind in mortgage payment and close to foreclosure?
Do you want to step away from the property with money?

Lots

Is your land is vacant or has a garage?
Do you have 1 more more lots next to your home that you are willing to sell?

Contact me for a FREE Evaluation or if you need to know if all cash deal is good for you.

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